Neuberger Berman looks to direct investment for growth

The listed private equity fund of funds vehicle of Lehman Brothers plans to shun secondary deals in a bid to increase transparency

By

Kiel Porter

Updated: March 11, 2011 7:08 pm GMT

Neuberger Berman Private Equity Partners, the listed private equity fund of funds vehicle of failed US bank Lehman Brothers, plans to focus on making direct investments in an effort to make its portfolio more transparent.

The move represents a break from the recent trend for listed funds to buy pre-existing investor commitments in the secondary market.